So, you’ve got $200,000 to spend on a home in Manatee County and you’re wondering what’s happening in that price band. Look no further for your real estate answer. I’ve got the stats.
For fun, I pulled the exact $200,000 price point and guess what? There was ONE home for sale. And it really isn’t even a home. It’s a tear down on acreage. So, it’s $200,000 for land. There are 3 properties under contract waiting to close and what surprised me was the average days on market is 122. 13 properties that were listed for an average of $208,528 closed right at $200,000 in the last six months. The average days on market is 28 and the average price per square foot is $139.92. The homes typically are 3 bedrooms and 2 bathrooms and 1,456 square feet.
Looking at one property at $200,000 which is really only land value anyway really doesn’t count in my estimate so I took it up to $220,000 and things changed. A lot.
In that price band there are 53 active properties on the market, 5 of them are new construction. Of the 48 resale homes in Manatee County the average active price is $213,844 with an average of 1,574 square feet per home and they’re on the market for 73 days. Remember yesterday’s $150-$155,000 homes report? They were on the market for 1/2 of that time.
28 properties are under contract and pending to close. Their average size is 1,691 s.f., days on market are 71 and the price per square foot is $131.84 on average.
Now, on to the sold properties. Over the past 6 months 165 properties sold at an average of $210,614 compared to a list price of $217,469 or 97% of list price to close price. The $150-$155,000 was at 102% list to close so you see that there’s a little wiggle room – 3% to be exact with our math. The average days on market for the sold properties is 59 days – and remember that’s from list to closing so they really are getting under contract relatively quickly.
Now, let’s move on to those 5 newly constructed properties for sale. They’re usually 3 bedrooms and 2 bathrooms at 1,469 square feet, slightly smaller than the average of the resale homes in this price band. The price per square foot is $147.80 compared to $139.92 in the resale category.
5 are pending – 1,488 square feet on average at $141.23 per square foot and on the market for 46 days. That’s from list to contract so it’s taking around 13 days to close some of these which speaks to me of cash, not financing.
How many new constructed homes sold in the past 6 months in Manatee County? 15. Average price is $213,118 on a $214,211 asking price. So they sold really, really close to listing price. Average days on market is 62 and they’re 1,602 square feet with 3 bedrooms and 2 bathrooms.
So there are choices in this price point – but when you see it you’ll need to act promptly. Have someone give you all of the facts before you act. That’s what we’re here for. If you want us to email you these reports or data on other price bands, just email us at firstname.lastname@example.org. We’re here to help. Hope this helped to make you even smarter than you already are. TeamWorks Over and Out.